Categories: ESSAY SAMPLES

International Trade and Wage Inequality

There is considerable discussion as to whether outsourcing is responsible for the reduced earnings of less-skilled workers both in the western world and other countries. What is conveniently overlooked is how firms struggle to survive in competitive markets and the impact that these wars of competition have on the labor market. The increasing disparity of wages would not cause so many problems if it causes an increase at the top level as well as the lower levels. To earn the best grades in your Dissertation, Thesis and college assignments you should choose an academic writing service that will meet your best writing needs.

For workers who had at the minimal education, including some with college degrees real wages declined significantly from 1973 to 1991 and those with the lease education were the worst affected.  The continuous improvement in the labor and with both partners working prevented the decline of income in most households. However, continuous growth in the economy and reduced employment figures during the late 1990’s considerably improved the probable collective state of anxiety that occurred because of greater wage inequalities and of dropping real wages for people who were at the lower level of the distribution level. Trade policies are sometimes used to make political capital on the concept that globalization and outsourcing are doing irreparable damage to living standards in America.

Income inequality leads to inequality in the living standards because it affects a person’s ability to buy medicine and other material things to lead a healthy life. There is a direct connection between life expectancy and a person’s spendable income. The difference in the gross domestic product also leads to shortened life expectancy because people in rich countries on an average live longer than people in poor countries. Naturally, such disparities are due to poor economic conditions of countries which are being addressed by outsourcing which increases the income of poor countries enabling the population to have better health and education facilities and also a better standard of living. The main rationale of industries is to make profits, not create jobs.

If work can be done overseas at a much lower cost, the contemporary industry will definitely take the chance of improving their profit structure because Corporate Social Responsibility does not include paying more for work at home that can be done at a fraction of the cost overseas. Outsourcing has taken many jobs from Americans, most of which in the manufacturing sector which was responsible for the building of America’s flourishing economy. American union leaders have tried to convince large industries that keeping jobs at home will benefit both the country and the economy. It was the labor unions that persuaded Boeing not to shift the writing of their manuals to Chile

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